Open Demo Account
Home / Market Update / Commodities / Gold Sees Biggest Decline in Seven Years

Gold Sees Biggest Decline in Seven Years

M. Ali 12 August, 2020 12:14 am Commodities, Market Update

Gold prices declined on Tuesday amid a strong correction wave, seeing its largest fall in more than seven years, since mid-April 2013.

The losses of the yellow metal as stock markets around the globe flourished, supported by positive news about a vaccine for the coronavirus disease (COVID-19).

Gold futures for December delivery dropped by $93.40 or 4.6% and closed at $1,946.3 per ounce.

Similarly, silver futures for September delivery fell by 11% or $3.21 and settled lower at $26.049 per ounce.

Tags

Check Also

Sterling Rebounds Following Softer US PCE Data

The Pound Sterling bounces back strongly above 1.3400 against the US Dollar after soft US …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends